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10. What is the present value of a $1,000 annuity for 10 years, with the first payment occurring at the end of year 10 (that

10. What is the present value of a $1,000 annuity for 10 years, with the first payment occurring at the end of year 10 (that is, ten $1,000 payments occurring at the end of year 10 through 19), given a discount rate of 10 percent?

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